Ending EV tax credit is risky business and national security threat

[testerdahl]

I hate the EV tax credit. It is unfairly propping up an entire industry and I’d love nothing more than to see the credit go away. If it goes away, it would also cost taxpayers trillions of dollars and cause a national security crisis. The proverbial double-edged sword. What is the EV tax credit? Before I get into the finer details, let’s first lay out the facts. The EV tax credit is an incentive-based program to encourage consumers to purchase electric vehicles. It also currently applies to used electric vehicles as well. The idea is to drive demand for electric […] (read full article...)

 

[Fightnfire]

The EV tax credit is and always has been a tax break for the wealthy. In my state, Washington, 75% of the tax breaks go to the top 25% of wealthiest zip codes. Nationwide 78% of EV tax credits went towards individuals earning over 100k annually.

EVs haven't caught on because the early adopters have already bought and they don't make sense for the low, or most of the middle class.

It's just a government subsidy for the rich, paid for by all of us.

 

[testerdahl]

The EV tax credit is and always has been a tax break for the wealthy. In my state, Washington, 75% of the tax breaks go to the top 25% of wealthiest zip codes. Nationwide 78% of EV tax credits went towards individuals earning over 100k annually.

EVs haven't caught on because the early adopters have already bought and they don't make sense for the low, or most of the middle class.

It's just a government subsidy for the rich, paid for by all of us.

Do you consider households making over 100k to be wealthy?

 

[Fightnfire]

Do you consider households making over 100k to be wealthy?

That data isn't households, it's individuals. However, no. I don't consider an individual making 100k wealthy but they're significantly better off than the majority. The average individual income in the US is 63k. (lots of extreme wealth pulling that number up) Household is somewhere around 80k. So, an indivdual making 100k is doing pretty damn good.